French renewable natural gas (RNG) producer Waga Energy has announced that it has signed an inaugural €100 million corporate syndicated loan with a consortium of 5 banking groups.
The syndicated loan, with a 3-year maturity extendible to 5 years, will enable the acceleration of the international development of Waga Energy notably in the United States, and will strengthen the Group’s financial structure.
Waga Energy produces biogas or Renewable Natural Gas – RNG – (also known as “biomethane”) by upgrading landfill gas using its much touted patented purification technology called WAGABOX.
This loan labelled as “green” will be used to finance projects that make a substantial contribution to climate change mitigation, in compliance with the European green taxonomy, and in line with decarbonization challenges.
This transaction was largely oversubscribed by a pool of 5 institutions: Groupe BPCE (Natixis, Banque Populaire Auvergne Rhône Alpes, Caisse d’Épargne Rhône Alpes), Groupe Crédit Agricole (Crédit Agricole CIB, Crédit Agricole Sud Rhône Alpes, Crédit Agricole Centre France, Crédit Lyonnais), Arkéa Banque Entreprises & Institutionnels, BNP Paribas and Société Générale.
Jean-Michel Thibaud the group’s Chief Financial Officer and Deputy Chief Executive Officer declared, “Raising this financing at the level of the Group parent company illustrates the confidence of our banking partners in the project steered by Waga Energy to serve energy transition. It further reinforces our balance sheet and confirms the strength of our business model based on the construction and operation of assets generating highly predictable cash flows.”
Waga Energy currently operates 27 RNG production units in France, Spain, Canada and the USA, representing an installed capacity over 1 TWh/year. Waga says that each project initiated contributes to the fight against global warming and helps in just energy transition.
In a momentous development, Union Home Minister Amit Shah has inaugurated Gujarat's largest waste-to-energy plant…
The NTPC R&D wing NETRA has announced that it embarks to set up green hydrogen…
AM Green has placed India's largest electrolyzer order with John Cockerill Hydrogen for one of…
By-Nipun OS India's energy goals for the next two decades are threefold: achieve energy security,…
How do you find the Indian CBG market on this visit? What’s the general sentiment?…
MIROSLAV BENKA, MD of BAUR FOLIEN talks to I am Renew and explains its business…